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Insurance 2.0 : Enabling Multi-Channel Sales & Services - Insurance Application Architecture
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Insurance 2.0 : Enabling Multi-Channel Sales & Services - Insurance Application Architecture

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In the world of Web 2.0, customers and consumers increasingly demanding mix of interaction points, and sales and services via multi-channels and multi-platforms. …

In the world of Web 2.0, customers and consumers increasingly demanding mix of interaction points, and sales and services via multi-channels and multi-platforms.

To support such growing demands, Insurers need to enable and extend their Insurance solutions (both Front End and Back End systems) to support the needs.

Kevin Guy Steer, CEO of 121advisor and AETINS Sdn. Bhd. shared what Insurers should be ready for and how to enable their Insurance solutions to meet the need of Insurance 2.0.

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  • 1. 21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Insurance Application Architecture
    Insurance 2.0 :
    Multi-Channel Sales & Servicing
    By Kevin Steer, CEO of
    AETINS Sdn. Bhd.
    & 121advisor
  • 2. Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 2
  • 3. Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 3
  • 4. Social Web Technology Challenges
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 4
    • 24x7 Online Access
    • 5. Customer Support
    • 6. Multi-Channel Support
    • 7. Customer Self-Service
    • 8. Interactive Service Chat
    • 9. Multi-Platforms Availability
    • 10. Security & Identity
    • 11. Know Your Customers
    • 12. Secured Access
    • 13. Time-to-Market
    • 14. Fast Product Release
    • 15. Online Sales
    • 16. E-Payment
    • 17. User Experience
    • 18. Back-End Integration
    • 19. Straight Through Process
    • 20. Campaign & Contests
    • 21. Privacy Act
    • 22. Monitoring Success
  • Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 5
  • 23. Integrating Social Web Solutionswith Existing Back-ends
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 6
    • User Ids: Agent & Customer sync – issue user Id, suspension
    • 24. Handling anonymous user interaction
    Security
    • Email, SMS, Chat, Telephone
    Communication
    • Java, .Net, Open Source (PHP)
    Web Language Support
    • Oracle, DB2, MS SQL Server, My SQL
    Database Support
    • PCs, Tablets, Smart phones, Hand Phones (SMS)
    Device Support
    • Back Ends, 3rd parties – point to point or central control?
    • 25. Data standards – ACORD ? Who follows who?
    • 26. XML Web Services, MQ Messaging, Direct Database access
    • 27. EAI gateways
    Connectivity
  • 28. Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 7
  • 29. Social CRMManaging Relationships in the Social Web
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 8
    Building & Using Social Profiles
    • Friend Referrals
    • 30. Social Profiling: Lifestyle, Key Events, Needs, Buying Patterns
    • 31. Risk Profiling: Underwriting Check
    • 32. Suspicious Claims Verification
    Plenty of Tools on the Market
    • Portal frameworks provide Social APIs to enable you to track Social interactions and tie them back to your customers and prospects
    • 33. CRM vendors are enhancing their solutions to include tracking of Social Web Interactions
    • 34. Google provides Google Analytics
  • Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 9
  • 35. Hype Cycle for Life Insurance: Gartner Report (July 2009)
    Social Web Systems readiness

    Assessing your Technology Readinessfor the Social Web
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 10
  • 36. Social Web Technology Functionalities
    Straight Through Processing (STP) Technology Components
    Gartner Report (December 2007)
    Social Web
    Readiness?











    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 11
  • 37.
    • Time to Market – product configuration, testing and launch
    • 38. 24 x 7 Social Web Services
    • 39. Security & Identity
    • 40. Sales Automation
    • 41. Enterprise Service Bus - SOA integration
    • 42. Risk Management – identification & auto underwriting
    • 43. Self-Service
    • 44. Interactive Help
    • 45. Customer Notification
    • 46. Regulatory Compliance – privacy, security, risk
    24x7 Insurance Application Architecturefor the Social Web
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 12
  • 47. Distribution & 3rd Party Partner Portals
    Internal Intranet Portals
    Customer
    Consumer Microsites
    Front-End Services (24x7) via secure role based Web 2.0 Portal & Content Management Services
    Lead Generation
    Customer Servicing
    Sales Automation
    Contract Servicing
    Reporting
    Portal Admin
    Business Services (24x7) exposed via Secure Enterprise Service Bus
    Business Rules Engines
    BPM Workflow
    & Notification
    Social CRM 360° Client View
    Multi-Channel Management
    Product Configurator
    Contests
    Document Mgmt
    eAcademy & eLearning
    Back-End Transaction & Audit Services + Data Warehouse Analytics
    Broker
    ALC
    Agent
    Bancassurance
    Direct
    TM
    Departmental
    Portals
    3rd Party Systems
    Head Office
    Portal
    Contract Admin Life Health General
    Takaful Family Health General
    Business Intelligence
    Social WebSelf-Service
    Analytical Mgmt Dashboards
    3rd PartyPortals
    Branch
    Portal
    Accounting System
    Banking Integration
    Social Media MarketingSites
    Direct Campaign MarketingSites
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 13
    24x7 Insurance Application Architecturefor the Social Web
  • 48. 24x7 Insurance Application Architecturefor the Social Web (in more detail)
    Distribution & 3rd Party Partner Portals
    Internal Intranet Portals
    Customer
    Consumer Microsites
    Front-End Services (24x7) via secure role based Web 2.0 Portal & Content Management Services (Mobile/Tablet/PC)
    Lead Generation
    Campaigns & Social Contests
    Customer Servicing
    Payment / Receipt
    Member Admin
    Sales Automation
    Needs, Quote, SIS
    eProposal, ePayment
    Contract Servicing
    Policy Servicing,
    Funds, Claims
    Reporting Dashboards& Analytics
    Portal Admin
    Account Roles
    Content Mgmt
    Business Services (24x7) exposed via Secure Enterprise Service Bus (XML Web Services /Messaging /SMS /email)
    Business Rules Engines Ratings, Illustrations,Auto-underwriting, Funds, Policy Services, Claims, RI
    BPM Workflow
    & Notification
    Forms, Messaging (Email, SMS, chat)
    Social CRM 360° Client View
    Customer & Partner role based access
    Consumer Experience Mgmt Services
    Campaign Data Mining - Social Profiling
    Multi-Channel Management
    Recruiting, Agent Movement
    Goal Setting, KPIs
    Performance, Compensation
    Product Configurator
    Contests for consumers & channels
    Document Mgmt
    eAcademy & eLearning
    Back-End Transaction & Audit Services + Data Warehouse Analytics (real time & day-end/month-end batch processing)
    Broker
    ALC
    Agent
    Bancassurance
    Direct
    TM
    Contract Admin Life Health General
    Takaful Family Health General
    Individual / Group Retail / Commercial
    Contract admin, Funds Management, Claims
    Financials, Valuation, Reinsurance
    Business Intelligence
    Data Warehouse
    MIS Reporting & Business Analytics
    3rd Party Systems
    Departmental
    Portals
    Head Office
    Portal
    Social WebSelf-Service
    Analytical Mgmt Dashboards
    3rd PartyPortals
    Branch
    Portal
    Accounting System
    Social Media MarketingSites
    Direct Campaign MarketingSites
    Banking Integration
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 14
  • 49. Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 15
  • 50. 21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 16
    Example: Integrating AETINS ISFwith the Social Web
  • 51. 21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 17
    Example: Applying AETINS ISFto the Social Web
    Separation of Back-Office & Front-Office
    SOA Integration via XML Web Services
    Reuse XML Web Services for Social Media Integration
    Single Product Configuration for Front & Back Office Applications
    Single test for back-end and online
    Deploy to production and sync to Web Server
    Simultaneous launch in back end and online
    24x7 Online Sales Capability
    Sync product rules run independently of Back-End
    XML Web Services exposes product rules to web server
    Social Web campaigns can use same web services as Banca and Agency channel Web Applications (ISFBanca, ISFAgent)
    XML Web Services used for
    Sales Automation - Quotation, Illustration, eProposal
    Policy & Customer Enquiry
  • 52. Multi-Channel Sales & Service :Insurance Application Architecture
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 18
  • 53. Speed
    Be ready to react fast, if things do no go according to plan
    Critical Success Factors
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 19
    Objectives
    Time
    Reputation
    Resources
    Know what you want to achieve before engaging
    Time to Market
    • “whatever you are thinking, most likely has already been thought of or already applied on the Social Web somewhere in the world”
    • 56. You can be sure one of your competitors is thinking the same
    Continuously monitor you Online Brand Reputation
    Ensure you have adequate resources to manage your Social Consumers
    • They are Demanding and Vocal
    • 57. When all else fails – use social media
  • An Experiment on the Social Web :Customer Service Works – Albeit It Slowly in Malaysia
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 20
    5th May 2011 posted on TM Facebook Wall – no response for months
    5th May 2011 Tweeted Complaint @TMCorp – responded within hour
    But Still… Service Delivered 5th July 2011 (2 months later)
  • 58. CLOSINGREMARKS
    Private & Confidential | Copyright 2011 @ 121advisor
    21 July 2011
  • 59. Example: Respond fast to Competitorsusing Social Media effectively
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 22
    An example of speed of response how using social media marketing impacts branding
    vs
    Watch Second Video at
    http://www.youtube.com/watch?v=J-Q6NBp8bCA
    Watch First Video at http://www.youtube.com/watch?v=bVO8o_PKvVg
  • 60. Know Your Competitor Before Responding – Making Your Own ‘Truth’ on the Social Web
    21 July 2011
    Private & Confidential | Copyright 2011 @ 121advisor
    Page 23
  • 61. THANK YOU
    Private & Confidential | Copyright 2011 @ 121advisor
    Web : www.121advisor.com | Email : mail@121advisor.com
    Tel: +60-3-7498-5212 | Fax: +60-3-7955-6363
    Follow Us : Facebook | Twitter | LinkedIn | YouTube | Webassurance.org Blog
    Address : Suite 1208, Level 12 Amcorp Tower, Amcorp Trade Centre, No. 18, Persiaran Barat, 46050 Petaling Jaya, Selangor
    21 July 2011

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